consequences of cheque bounce in india (Communities - Services Offered)

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consequences of cheque bounce in india


A cheque bounce in India can lead to both civil and criminal consequences under Section 138 of the Negotiable Instruments Act, 1881. The payee can file a legal complaint if the cheque is dishonored due to insufficient funds or other reasons like mismatched signatures. The drawer may face penalties, including fines, legal costs, and compensation to the payee. Criminal proceedings can result in imprisonment for up to two years and/or a fine up to twice the cheque amount. Additionally, it can harm the drawer's creditworthiness and banking relationships.

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Target State: All States
Target City : Chandigarh
Last Update : Jan 17, 2025 4:12 AM
Number of Views: 27
Item  Owner  : NRI Legal
Contact Email:
Contact Phone: 07428899979

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